Business loan documents Checklist- A juncture comes in any business life cycle when you need to manage cash flow and grow your business by investing in capital expenditure or upgrading the business equipment etc. Apply for business loan, which can be the best financial help you can get at times such as these.

You can also apply for business loan if you need capital to start a fresh business.There are many banks & NBFCs that offer the best business loan up to 30 lakhs, with or without collaterals and with pre-approved offers. The rate of interest applicable and tenure offered for the business loan depends upon a number of factors such as your credit rating, the profitability of the business, future growth potential etc.

Documents required when you apply for business loan

Each lending institution has its own specific set of documentation criteria. Here we will let you know about the general documents checklist as well as specific documents required depending on different business employment types.

Identity proof of the Private Limited Company: VAT/Sales tax / Service tax / IT return/ Excise registration of the concern, Electricity/Water / Shops and Establishment Registration, PAN ID /Municipal tax receipt in the name of the concern, Memorandum & Articles of Association

Individual Identity Proof: Identity Proof to be submitted for the authorized signatories and two directors (that includes the managing director) (any one of the following- PAN card, Driving license, Voter’s identity card and Passport

Documents required For self-employed individuals (professionals)

Proof of identity of the sole proprietorship

IT return/PAN ID of the concern or Water, Electricity bill, Municipal tax in the name of the concern

Last 6 months’ bank statement of the primary banker/bank statement copy for the term loan

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